Chiquita Sells Stake in Florida Citrus Joint Venture

CINCINNATI, Aug. 29 /PRNewswire-FirstCall/ — Chiquita Brands International, Inc. (NYSE: CQB – News) today announced that it has sold the company’s interest in a Florida citrus joint venture, The Packers of Indian River, Ltd., to its joint venture partner for an undisclosed amount of cash and the assumption of debt.
Based in Fort Pierce, Fla., the Packers of Indian River is a produce company that grows and packs grapefruit and other citrus products. The company’s assets include two packing houses and approximately 6,000 acres of groves.

Chiquita Brands International is a leading international marketer, producer and distributor of high-quality fresh and processed foods. The company’s Chiquita Fresh division is one of the largest banana producers in the world and a major supplier of bananas in North America and Europe. Sold primarily under the premium Chiquita® brand, the company also distributes and markets a variety of other fresh fruits and vegetables. Additional information is available at www.chiquita.com .